Performance is multi-faceted
No single statistic can accurately reflect the quality and consistency of manager performance. Rather performance needs to consider multiple time horizons, risk as well as return, performance trends and style-related factors.
Use of benchmarks
Benchmarks fulfil a useful function as a performance yardstick. Often a composite of underlying indices, a benchmark should describe the asset allocation that a manager would adopt if they had no strong views on specific asset classes, regions and sectors.
Peer group comparisons
ARC is the creator of a unique set of Private Client Indices (PCI) designed to be used by private clients and their advisers in assessing the performance of any discretionary portfolio with a non-specialist mandate.
Available in Sterling, US Dollar and Euro, there are four PCI categories covering the spectrum of risk: Cautious; Balanced Asset; Steady Growth; and Equity Risk. PCI provides an objective means of placing investment performance into context based on around fifty discretionary private client managers contributing real portfolio performance data.
Reflecting all major investment styles, approaches and philosophies, the PCI universe is unique in coverage and scope. As such, PCI provides a barometer for the state of the private client discretionary investment management industry.
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